Everest Group, Ltd. (NYSE:EG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Everest Group, Ltd. (NYSE:EG) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $400.33.

Several research analysts recently weighed in on EG shares. Keefe, Bruyette & Woods reduced their price target on Everest Group from $434.00 to $402.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. UBS Group reduced their price target on Everest Group from $375.00 to $372.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group upgraded Everest Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $376.00 to $415.00 in a research report on Friday, April 11th. Raymond James Financial reissued a “strong-buy” rating and issued a $410.00 price objective (down from $420.00) on shares of Everest Group in a report on Tuesday, May 6th. Finally, Morgan Stanley raised their price objective on Everest Group from $330.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, May 19th.

Insider Buying and Selling

In related news, CEO James Allan Williamson acquired 1,000 shares of Everest Group stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average price of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer owned 25,618 shares in the company, valued at $8,658,115.46. This represents a 4.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Everest Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC raised its holdings in shares of Everest Group by 3.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 843 shares of the company’s stock valued at $306,000 after buying an additional 30 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Everest Group by 3.0% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,025 shares of the company’s stock valued at $372,000 after buying an additional 30 shares during the period. Legacy Advisors LLC raised its holdings in shares of Everest Group by 5.5% in the 1st quarter. Legacy Advisors LLC now owns 599 shares of the company’s stock valued at $218,000 after buying an additional 31 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Everest Group by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company’s stock valued at $1,913,000 after buying an additional 36 shares during the period. Finally, Vontobel Holding Ltd. grew its stake in Everest Group by 2.1% during the 1st quarter. Vontobel Holding Ltd. now owns 1,781 shares of the company’s stock worth $647,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 1.0%

Shares of NYSE:EG opened at $337.48 on Monday. Everest Group has a 52-week low of $320.00 and a 52-week high of $407.30. The stock has a market cap of $14.35 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 0.26 and a beta of 0.51. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $342.38 and a 200-day moving average price of $349.41.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share for the quarter, missing the consensus estimate of $7.46 by ($1.01). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Everest Group had a net margin of 4.88% and a return on equity of 5.95%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $16.32 earnings per share. Equities analysts predict that Everest Group will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a yield of 2.37%. Everest Group’s payout ratio is 41.15%.

About Everest Group

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.